Canola Price...

[farmaholic]

It would take only a $4.00 drop in futures prices to get one of the local terminals canola price below $9.00/bu. Unless they could find it in their heart to adjust their basis..... wow, that only tells me they don't want it. Better prices around if you look!

[Partners]

Lots of canola forward priced..It was $11.50 or so..Now they can buy it for $9.00 so they will average out their price around $10.00..Its the magic number for canola..

[fjlip]

More bad demand news...

Bunge Canada’s canola processing plant near Nipawin, Sask., will be shut down indefinitely after a fire de-stroyed two large pieces of equipment at the facility yesterday. Nipawin fire chief Brian Starkell confirmed this morn-ing that fire broke out in the crush plant Aug. 2 around 5 p.m. The fire was contained to one building, which suffered structural damage. Several pieces of equipment were damaged inside, including two large machines that were used to crush canola. Officials from Bunge were not immediately available for comment, but it’s expected that crushing operations will be suspended indefinitely until the plant is repaired. “The fire was in the equipment and it was ex-tremely hot in the building, so it was very difficult to get to burning area,” Starkell said.

[bucket]

You would think they would have fire water sprinklers throughout the plant to avoid such a fire?

I find some things ironic like having all the safety stuff but not the important stuff to avoid plant downtime.

You would think at a certain temperature or other relevant factors an alarm would prevent a fire of this size?

[Partners]

Local Viterra ..$8.70 for Sept delivery..$62.00 basis...

[farmaholic]

Has the China dockage issue been addressed and resolved?

[sumdumguy]

Gotta wait for higher prices. There is a hungry world out there.

As long as we have CO2 and sunshine the world will be able to feed it.

[boarderbloke]

With the margins the crushers are taking, I don't think that plant at Nipawin will be down for too long.

[Rareearth]

So in a difficult market what are the options?
1 find a local buyer and accept their price, deliver with own truck and save freight
2. Deliver to North Gate , or American companies
3 deliver again futures save the basis
4 use futures or options to off set basis risk or futures
5 futures and spread with soybeans or soy oil
6 deliver to G3 with the extensive end user market they have, Dubai crush plants
7 deliver direct to local crushers, better basis?
8 sell off the combine, no storage risk and buy calls
9 deliver off the combine, buy futures, hope... It's the bottom, if market doesn't improve you have cash and can pay bills - cash flow (to buy land, fert, and other inputs for next year😀)
10 Do nothing, soybeans the strongest or most likely to improve price wise, ( except for lentils and peas)
11 ask Errol

[boarderbloke]

Summary outlook commentary, from Ken Ball

http://futures.tradingcharts.com/news/futures/ICE_Canada_Weekly_Outlook__Canola_Sitting_Right_Ab ove_Support_256689557.html